Claims management in the United Kingdom is big business, with more than 120 ppi claims companies currently trading in a market that is worth billions of pounds per year.
There are more than 11m people in the United Kingdom who were sold payment protection insurance since 2005, meaning that there are a LOT of people out there who need to submit a claim.
For people who arent interested in claiming compensation alone, there is a helpful solution however it does cost money on a no win no fee basis (in most cases.
Enter the ppi claims companies. These companies are facilitating the management of claims through to completion in return for a fee that is paid once the case is complete (assuming the case is a success of course).
So How Do I Get Mine Started?
The first thing to do is take a look around for a good CMC (Claims management company), one that is transparent about their fees and services and that don’t charge you excessive amounts of money, after all a ppi reclaim isn’t rocket science, however it can be a rather bothersome, and tedious process meaning that there is a niche for these companies to come in a provide a solution to the public.
The average claim value, is usually something around £3k per completion, and some people actually have more than one complaint present in their financial arrangements, would £3,000 come in handy for you? If the answer to that question is YES then of course you should reclaim your ppi.
What kinds of fees can I expect to Pay for help with my claim?
Anything from 30% to 10%, there is a company called “ppi claims 4 you” that come highly recommended (Gibson Blake Claims Management LTD) these guys charge 15% and they have a good team, they are also a lot cheaper than many other companies, so they could be worth a look, however there are lots of them out there, Gladstone Brookes are also recommended however they charge 30% which is quite high really.
The best thing to do is look around and get a feel for who you feel comfortable with working with, and then go ahead and submit your case.
Best of luck with your reclaiming, and remember to read the terms and conditions before engaging in any service, good luck!